DA for Bank Employees From August 2017 is 47.80%

DA for Bank Employees From August 2017 is 47.80%

Ads

DA for Bankers August September October 2017

Today i.e. on 30.7.2017, Government announced Consumer Price Index (CPI) data for the month of June 2017. On the basis of CPI data announced by the Govt for the month of April 2017, May 2017 and June 2017, as tabled below, there is an increase of 18 DA Slabs payable for the period of August 2017, September 2017 and October 2017 for all Bank Employees in 2017.

On the basis of CPI data announced by the Government for the month of April 2017 to June 2017, the expected DA payable for Bank employees and officers from August 2017 to October 2017 is 47.40% expected DA for bankers from august 2017, previously it was 45.60%.

 Bank Employees to get increased DA from August to October 2017.

 CPI for April 2017 was announced on 31st May 2017 and it was 6322.77. 

CPI for May 2017 was announced on 30th June 2017  and it was 6345.60.

 CPI for June 2017 will be announced on 30th July 2017  and it is 6391.25.

Calculation of DA August 2017, September 2017 and October 2017 :- 

  • April 2017 - 6322.77
  • May 2017 - 6345.60
  • June 2017 - 6391.25

Bank DA for August 2017, September 2017 and October 2017

  • Average CPI is (6322.77 + 6345.60 + 6391.25) / 3 = 19059.62/3 = 6353.17
  • Deduct 4440 slabs from average CPI (6353.17 - 4440) = 1913.17
  • Divid 1923.21 by 4 to convert to quarterly DA slabs (1913.17/4) = 478.
  • DA Slab for next Quarter will be 478.
  • Multiple 478 with 0.10%, is payable as DA = 478 x 0.10% = 47.80%
  • So DA Payable for for August 2017, September and October 2017 will be 47.80%.
  • Slabs for August 2017, September and October 2017 = 478.
  • Number of slabs for the Previous Quarter (May, June aand July 2017) = 456 slabs 
  • Decrease in the slabs for the current quarter = (478 - 456) or (47.80% - 45.60%) =  +22 slabs or 2.20%.

DA for Bank Employees From August 2017

DA for Bank Employees From August 2017

 So, The tentative increase in DA Slabs is 22 slabs for the month of August 2017, September 2017 and October 2017.
DA for Bank Employees From August 2017

So, The Dearness Allowance (DA) payable to employees/Officers is 474 slabs for August 2017, September and October 2017.